Section Sch2-14 — Property Law Act 2007: Power to subdivide

14 Power to subdivide (1) For the purpose of exercising the power conferred by clause 13 to sell the whole or any part of the mortgaged land, the mortgagee (without the need to enter into possession of the land as mortgagee) or any receiver appointed by the mortgagee under the mortgage may subdivide the land. (2) The power to subdivide conferred by subclause (1) includes the following powers: (a) to apply for and obtain all necessary consents under the Resource Management Act 1991 : (b) to comply with all reasonable and proper conditions of consent, including (without limitation)— (i) the payment of any financial contributions: (ii) the vesting of reserves: (iii) the provision of services: (iv) the formation and dedication of roads and service lanes: (v) the formation of access ways and rights of way: (vi) the creation of easements: (vii) the execution of any bonds, covenants, or consent notices: (c) to survey the mortgaged land and deposit a plan of subdivision under the Land Transfer Act 1952 . (3) The mortgagor irrevocably appoints the mortgagee as the attorney of the mortgagor to execute documents and do things that may be reasonably necessary or incidental to the exercise of the powers conferred by subclauses (1) and (2). (4) The mortgagee, as attorney of the mortgagor, has power from time to time to appoint and remove 1 or more substitute attorneys, and the mortgagor agrees to ratify and confirm anything that the mortgagee or a substitute attorney lawfully does or causes to be done under this clause.